Before approving a purchase; a CFO should add key questions.
Many boards still measure purchases by the immediate price. However, that is the costliest error: viewing the cost as a snapshot rather than a film.
✅ 3 questions every CFO should ask before signing:
1️⃣ What is the total life cycle cost? (maintenance; energy; replacement; end-of-life disposal).
2️⃣ How does it impact the carbon footprint and ESG indicators? (every sourcing decision today influences contracts and market access tomorrow).
3️⃣ What reputational risk does it entail? (an unsustainable supplier today can incur penalties; customer attrition and reputational harm).
Today, being a "strategic partner" to your potential customer or supplier also depends on your purchasing decisions.
Strategic procurement is not about choosing the lowest-cost option; it is about ensuring efficiency + compliance + competitiveness.
👉 CFOs, procurement managers: do you already integrate these questions into your decision-making process?
